. ann. >> that does it for us. thank you for watching. see you tomorrow, 5:00 for "options action." >>> i'm jim cramer, and welcome to my world. >> you need to get in the game! >> firms are going to go out of business and he's nuts. they are nuts. they know nothing. >> i always like to say there's a well market somewhere. >> "mad money," you can't afford to miss it. >> hey, i'm cramer. welcome team money. welcome to cramerica. others want to make friends, i just want to make you money. call 1-800-743-cnbc. in the face of crushing declines and a glorious rally and even sometimes plain jane garden variety days in this market, there's a "mad money" toolbox to help you through and to help you become a better and wealthier investor. tonight i'm cracking it open, so listen up! if you're going to manage your own money, you have to recognize the value of maybe one of the most important issues out there, the value of humility, so, please, repeat after me. sometimes, i'm going to be wrong. come on, say it. sometimes, i'm going to be surprised, and one more. sometimes my stock picks just won

. welcome. merry christmas out there. thank you for joining us here on the show. what we're looking at today, we've got slightly quiet markets ahead of the u.s. open. what we're seeing, though, that all the markets are being called lower across the board stateside. the dow is being called a bit lower, nasdaq is being called a bit lower and the s&p 500 being called down by a bybit, as well. we saw markets coming off on friday stateside. pretty significant drops, as well, given that we now seem to be a clashing of heads between the republicans and the democrats in regards to moving forward on the fiscal cliff issue. it does seems as though they're running into logger heads here slowly before the last couple of days before the deadline to solve the fiscal cliff negotiations. the ftse 100, a couple of points higher at the moment. same going for the spanish market, the aex in the corner. we're looking at relatively flattish trade here in europe on christmas eve. let's recap off of what we've seen in asia in the overnight session here. you're looking at slight gains across the board. the

us getting a fiscal cliff deal. >> i think the atmospherics are getting so much better. we've gotten out after ka bookie theater and gone to dancing the tango with those two guys. any time you start to tango, you have a chance. >> chances of getting it done now are better. i think that's what's key. >> part of that tango is republicans cracking on tax rates. that's what president obama will be talking about in michigan today. keeping the public pressure on. but the part for the administrator point of view, tyler, is what do they live john boehner so he can bring his troops along, entitlement, spending cuts, to tell their members we got a good deal. >> john, i find it curious to find that president spent as much time as he has on the road trying to drum up support for this deal. we just had an election all about this. why does not white house figure that these kinds of appearances are helpful when both sides positions are pretty well locked in already? >> because this president and this white house have concluded that public pressure is what will make republicans bargain with him and

. >> that does it for today's edition of "power lunch." thanks for joining us. >> "street signs" begins right now with the dow jones industrial average off 40 points. see you tomorrow! >>> welcome to "street signs." where stocks are dualing it out. good data on one fis, fiscal cliff fears on the other. if we hit the cliff, is defense done as an investment? we'll find out. >>> plus the latest on why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month of the year but today the dow and s&p are down for the first time in four days. dow was up 61 points before the disappointing ism data at 10:00 a.m. this morning. it has never recovered. s&p is flirting with a three-week high even though it is slightly lower. nasdaq touched a one-month high earlier on. >>> never doubt the power of of the american consumer is what we always say

is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> well, not quite yet. u.s. officials tell us that the syrian military is poised to use chemical weapons against their own people, and all it would take really is the final order from syrian president assad. but we have learned that as of today, all the precursored chemicals for that deadly nerve gas have in fact now been loaded on to aerial bombs, but those bombs are still in the depots. they haven't been loaded on to airplanes yet, and president assad hasn't given the order. but they're pretty close, larry, and that's why earlier this week, of course, president obama issued a very strong statement aimed at president assad saying look, if you use these weapons against your people, there will be serious consequences, but that's where somewhat of the problem lies. >> listen, i want to ask you, one of the parts of the red line statement by president obama and se

rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. [clock ticking] >> i pay the bills around here, so i'm gonna set the expectations. >> howard weyers is the boss; to some former workers, the boss from hell. if random tests find one of his workers has been smoking, he or she is fired. increasingly in the american workplace, big brother, or big boss, is watching you and your private life. >> what's important? this job-- and this is a very nice place to work--or the use of tobacco? make a decision. [clock ticking] >> americans work longer hours than nearly anyone in the developed world, even the japanese. >> good morning, everyone. >> for many professionals and corporate managers... >> super, super, super-duper hot. it's crazy. >> the 40-hour work week is history. >> daddy! >> okay, hold on just a minute. >> 60-to-80-hour work weeks are now the norm. >> you don't think you're working too much? >> no. >> do you? >> no. >> do you? >> no. >> you're brainwashed. [laughter] >> maybe we're all crazy. >

tomorrow. thank you for joining us, keeping an eye on tomorrow's trading. but for today, at least, an interruption in our obsession with the fiscal cliff negotiations. today was all about the fed. a rally was up 80 points on the dow at one time until midday when bernanke had his news conference and took all the wind out of the sales. down three points at 13,245. that does it for "the closing bell." >> "fast money" starts right now and i do believe maria is back tomorrow. >> she will be. see you tomorrow. >>> traders get what they wanted. >> if unemployment never goes below 6.5% again, we're going to have a quarter percent forever. >> so, now it's a race to see who can buy more lumber futures for printing currency between the japanese and the americans. >> but chairman bernanke is a buzz kill for stocks today. >> the asset purchases are a less well understood tool. we have -- we'll be learning over time about how every cautious they are, about what costs they may carry with them in terms of untended consequences. >> and we're back to worrying about a thelma and louise finish to the

would have been a six week high for euro-dollar. joining us for more is alan capp, head of credit straebtegyt lloyds. alan, let's get your reaction. the number is going in the right direction. does it make much of a difference? >> right now the equity markets have had a great run. they're looking a bit overstretched. so i'm strul link to see how financial markets will respond positively to this. i think we need something bell to repel us forward. >> what do these numbers translate into in your forecast? >> what these are suggesting to us is manufacturing will not be able to support any growth in the eurozone, so it suggests that the downturn in gdp is likely to continue into fourth quarter, remain in recession and that's obviously a struggle on global growth, as well. >> and we stay in recession in the first quarter? we're now in december. >> there are some signs particularly the china pmi numbers and what we've seen from gdp recently that maybe some of the markets key to u.s. exporters may be showing signs of stabilizing, maybe get to growth. so that might mean moderation in the

joining us now from rome. do we expect more of this rhetoric today? >> oh, definitely. not just today, but specifically over two months. elections will only be held probably on february 24th. we've got about two months of the silly campaigning season to follow. so yes, as you said, the verbal exchange is definitely heating up. it started with mr. monti's response criticism coming from officials about his renewed request for the prime minister post yesterday. he said this criticism was out of place. it was offensive not just for him, but also for all of the people in italy who have the freedom to vote. this morning, he did an interview with one of the channels here in italy and he said, i don't really care about this spread because the spread is based on fraud. that's the direct translation. meanwhile, if you take a look at the spread, they are moving higher again. 4.9%. italian equity markets are moving fractionally to the down side. so you've got mr. monti on the wire saying, yes, we should care about the spreads. we should care about the italian yields. but at the same time, i

joe bought it also. >> wow. thank you. that disit for us. don't forget to join more fast at 5:00. join me on cnbc. "power lunch" starts now. >> the second half of the trading day starts now. >> fiscal cliff negotiations picking up speed as house speaker boehner unveils his back-up plan. the white house says no thanks. we are going to look at the fiscal cliffrences between the two. private equity firm selling after last week's shooting in connecticut. should investors, rather than the government, take the lead in attempting to influence gun policy? >>> herb greenberg will be out with his list of the worst ceos of the year. in this hour he will reveal number three. my partner sue herera on the floor of the new york stock exchange. hi, sue. >> hi, ty. it's a strong day with a triple digit advance. we have 13 days until america goes off the fiscal cliff. events moving faster in washington. house speaking boehner meeting with party members, moving to plan b. that deals with bush era tax cuts. the white house rejected that. investors like whatever progress we're seeing. s&p 500 at a tw

edition of "way too early." thank you for being up with us today. we have a lot of news to talk about just in case the mayan calendar turns out to be wrong. plus, it's actually one of the busiest travel days of the year. right now a major blizzard is causing all sorts of trouble in the air and on the roads. we'll have a live report and the latest forecast in just a bit. but first, let's get to the news live at 5:30 a.m. here at 30 rock in new york city. >>> with 11 days until the fiscal cliff deadline, the house of representatives has gone home for christmas. and negotiations are in absolute limbo right now. in a pretty embarrassing setback last night, house speaker john boehner pulled the plug on his so-called plan b proposal that would have raised taxes on those making over $1 million. the republican-led house abruptly went on recess after boehner realized he just didn't have enough votes for the measure to pass. house majority leader eric cantor who assured earlier in the day that plan b would pass didn't have a whole thrott say last night. >> no vote tonight? >> no. >> will there be a

last two months of patients' lives. it's a perfe example of the costs that threatened to bankrupt us and how hard it's going to be to rein them in. >> genes--as a result of them, you've inherited some of your family's finest qualities, along with predispositions to deadly diseases. you probably know that science has made giant leaps in detecting and treating some of those illnesses, but what you probably don't know is that at the same time, biotech companies have been patenting human genes. that's right. whether you like it or not, a vital part of who you are may now belong to someone else. >> let me just examine him. >> people are worried more than ever about how the chemicals we're exposed to are affecting our health. among them, a family of chemicals used in everyday plastics known as phthalates, which congress banned in toys after a study by dr. shanna swan. welcome to 60 minutes on cnbc. i'm lesley stahl. we'll be exploring the world of science in this episode. later we'll bring you morley safer's story about the human genome patents being awarded to biotech companies and the pr

sent us here to work together towards the best possible solution, and that means cutting spending. the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. >> meanwhile despite all of the back and forth, the market is seemingly optimistic today. at least some form of a deal will be released. we've been up 100 points on the dow industrials for the past hour. senator mark warner of virginia perhaps putting it best saying compared to the size of our economy the current proposals are relatively small and government should step up and get a deal done. >> we're joined by representative lee terry, republican from nebraska represents the district home to a guy we all know, warren buffett. >> pretty famous guy. >> we spoke to some folks already today. we're not hearing many details. what details have you received specifically from the democrats on the spending cuts they are willing to make. >> none. we haven't heard any details from the democrats, even bust talking around the capital. >> nothing. what they are doing

wrapped up a surprise meeting at the white house. cnbc's own eamon javers joins us now with the details. again, good evening, eamon. >> good evening, larry. we're told the meeting at the white house was in the oval office. it was about 50 minutes long. boehner and obama were joined by a couple key players, including tim geithner and rob neighbors, the white house's liaison to capitol hill. he's the go-to guy who's been shuttling the paper back and forth throughout this. boehner was also joined by an aide that boehner sources have not named. i don't want to read too much into this larry. but you can get a sense from the amount of people in the room that they're getting into at least some level of detail here. if it was just the two principals, you'd expect a more general conversation. with that number of people in the room, maybe some more details getting hashed out. both sides describing the meeting as a frank one. saying as they have been throughout this that the lines of communication are open, but no major announcement here after the meeting. no news here so far on what was actually

traditionally a good month for the bulls. >>> first interview, david faber is going to join us with the ceo of charter communications. that is thomas rudd ledtledge. we'll get his take on the economy and the company's growth plan. a cnbc exclusive. >>> would you get a mortgage from that girl? no, from walmart. a lot of people say they would. what's that all about? we're going to run it down later on "power lunch." >>> we start with my partner sue herera in the center of the action downtown at the nyse. >> stocks are slightly lower right now despite those fiscal cliff anxieties. they've been pretty steady throughout the day. the s&p 500 broke above its 50-day moving average, believe it or not. earlier in the day it's backed off a little bit. economic news and new data shows u.s. manufacturing falling to its lowest level in three years. and there is a little nervousness about the president taking to twitter at 2:00 p.m. eastern time to talk about the fiscal cliff negotiations that are going on. but it is the first trading day of the month and some on wall street are getting bullish fo

system. honestly with a technicality has to stop the way walter cronkite used to do woit. "i asked you a question and that wasn't the answer." stand up to people. "we're the first line of defense." i applied all of you for as much as you try. you have to hold their feet to the fire. i'm so sick of the split amongst this country. hold them to the fire. host: thank you for the call. we try to do that. keep calling in and sending those tweets and e-mails and keep us on our toes. guest: why isn't anyone doing anything? health and human services runt fraud prevention and fraud detection. that has been ramped up by the affordable care act to target those people. the government estimates they have recovered about 4 per $1 billion in medicare fraud -- $4.1 billion. host: this is from one of our viewers. guest: that is the hope from the obama administration. reimbursements cannot keep going up and up and up. health care is about a fifth of the entire economy. if you give people a budget to work in, they will change the way they work. they have to figure out a new way to do business. host: c

and henry joins us now. 2013, what does pressure on the price of oil mean? >> downward, i think. i think what we see is some significant nonopec finds. we see falling u.s. demand, rising supply. we see miles driven. there's technology at play. probably the biggest thing that could happen to the auto industry and we can come on to that. that's only a few years out. the message from the futures market that we're get sg oil should be some $10 to $15 lower. if we were to get $10 off the oil price, it broadly equate toes about 1% gdp surprising the western world. it's that time of year where we're pending our thoughts to next year. tangible, economic prices to next year. it will be oil related, a chance, good job with raising the tax threshold in the uk. that means for the first year in five. uk link will be up, not down. and them i also think thattory thing our chancellor did a good job of was she raised taxes by 10 so companies can invest a 215 pounds, not just 200 pounds. >> that's a leverage the other governments have been trying to pull. but your point is interesting. it's not just

on "mad money." i'm jim cramer. see you tomorrow! hey, larry, what do you have for us? connecticut, where the first of the victims from the tragedy here were laid to rest today. this grieving town begins the process of saying good-bye, investigators continue their search for how and why it all happened here. i'll have more coming up. devastation of superstorm sandy, but wait until you hear about all the pork loaded into this $60 billion sandy relief bill. hardly any of it gets to sandy and the actual survivors. we'll get to all that. "the kudlow report" begins right now. >>> first up, 14 days and the clock is still running for a deal to prevent the nation's economy from falling off the tax and fiscal cliff. president obama, speaker boehner, they huddled at the white house today once again, but are we really any closer to a compromise? we go back to cnbc's eamon javers who joins us from washington with all the details. good evening. >> reporter: good evening, larry. you're right, they did meet today. it was a surprise meeting not announced as the previous meetings between the two me

? >> it's bad. you hurt your undercarriage. but spain and the undercarriage is not something any of us need. but i think that howard dean, we didn't have time to go back and get howard and stuff. but howard said the best deal the democrats are going to get is to go over the fiscal cliff. taxes go up, then you go the republicans in position where they're getting the lower taxes. then patti murray. >> i just hope that people are paying attention that what we are seeing is basically the best world for politicians, they put off the and then everybody is going to pretend, oh, it's something happened. and nobody in the meantime is representing the interest of the american people. you know, we've got both parties in a position to negotiate this is what we want, this is what we elected and they're doing everything they can to not pay attention to that and to go to their separate corners and to be separate and to pretend that their way is not the only way. >> and it could result in people being called into, like, their supervisor's offices and their supervisor goes, i'm sorry, people are actual

least. remember, that's what got us into trouble in august 2011. >> that does it for us on "power lunch." >> sue, i'm off for the next couple of days and through chris ma. merry christmas to all our viewers. see you after the holiday. "street signs" right now. >> welcome to street signs where goldy locks is in effect. we've got two generals in the news. general motors buying a big government stake back. and general mills posting a big number and its outlook and ceo of general mills is here. >>> and call them the come back kids. why some of the worst stocks are bouncing back in quarter. watch out. billionaire land grab is on. incredible story of how the uber rich are buying up america. >> a pretty dull market day. flatly in the red here. let's try to spice it up for you, folks. all three averages, despite today, on the best pace since thanksgiving week. and also the day's best performers. even though the nasdaq is slightly lower, it is up nearly 3% during three-day winning streak. this is your global market. it is at its highest level on record. we have breaking news. let's get str

very busy week here to talk about the numbers and put it in context for us. >> hi, sue. no substantive sandy in the jobs numbers. the lack of sandy effect has us scratching our heads, what they said. i just got off the phone with the guy who's the head of doing the numbers, labor numbers at the bls. he walked me through the rather extensibilive process they did fine out if there was any sandy effect, including sampling of businesses in a flood tide areas. >> it was very meticulous. >> i'm pretty convinced they did a good job figuring out if there was an effect and there is no effect which brings us to the numbers which you could believe on face value as much as you can. they'll revise this again. they only come forward with 60% to 70% of the sample. unemployment rate falling 7.7% because largely a drop in the labor force. average hourly earnings up 0.2%. despite positive headlines, xwoeld man sax says we interpret this report as one only slightly better than expected overall given downward revisions and weaker labor force and it does not change our assessment of the underly

] >> there's no spitting or anything, so no one knows you're doing it. >> he uses a product called snus, a big new idea in smokeless tobacco, and the tobacco companies are banking on it. >> thank you. >> it was started in sweden, where it's getting credit for helping people quit smoking, even though it keeps them addicted to nicotine what sweden has done is traded one addiction for another addiction. >> that's true. addiction is a problem, but it's less of a problem than lung cancer. [ticking] >> its inventor and investors say it will change the way we power our homes, bypassing the traditional electric grid. is the bloom box intended to get rid of the grid? >> the bloom box is intended to replace the grid for its customers. [ticking] >> let's say if you spilled something on it... >> marty cooper looks on all this with pride, amusement, and some dismay. >> when i throw this against the wall, you--ooh. >> and with good reason. he's the father of the cell phone. >> how do i remove? i know how to add a-- but say i want to remove that one. >> welcome to 60 minutes on cnbc. i'm lesley stahl. invest

what's done. >> he wouldn't tell us how he plans to get a deal done. coming up, we will hear from the other side of the aisle. hopefully representative mulvaney will rise above. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5411. >>> let's take a look at who came out on top this week. >> it was a big day, quadruple witching. big volume. 4.6 billion shares here. dow jones industrial

the data tells us with certainty: there are more children and families that need help." well, that's our edition of 60 minutes on cnbc. i'm bob simon. thank you for joining us. [ticking] [ticking] >> madoff. it is a name that will live in infamy. it's a tough name to live with. >> it sure is. >> in the first interview since bernie madoff's arrest, his wife ruth... >> i trusted him. >> and son andrew... >> that's who i am. my name is madoff. and i'll live with that for the rest of my life. >> speak out about crime, guilt, suicide... >> mr. madoff, what do you have to say for yourself? >> and the day bernie admitted to committing the largest financial fraud in history. >> and he said, "i have a confession to make. i've been running a ponzi scheme." [ticking] >> do you think you could pull off this scam today? >> given the same security measures? >> yep. >> easily. piece of cake. >> sam eshaghoff's scam was getting paid thousands of dollars to take the s.a.t. test for other students. he did it at least 16 times, scoring in the 97th percentile of the country. >> i would call him an acade

20th. it's time to get the deal done. that will do it for us. thank you for being with me. stay with cnbc. "fast money" begins right now and i'll see you tomorrow. >>> when up in the capitol, there arose such a clatter. >> frankly, if you looked at it, the republicans, in the house and speaker boehner, i think, were in a position to say, we've gotten a fair deal. the fact that they haven't taken it yet is puzzling. and i think, you know, a question that you're going to have to address to them. >> i sprang from my office to see what was the matter. >> tomorrow, the house will pass legislation to make permanent tax relief for nearly every american. 99.81% of the american people. then the president will have a decision to make. he can call on senate democrats to pass that bill or he can be responsible for the largest tax increase in american history. >> and what to my trader's eyes would appear, but bickering politicians over the cliff did they steer. "fast money" starts right now. live from the nasdaq market site in times square, i'm melissa lee. here are tonight's top three trades. to

decisions at all. that will do it for us today on "closing bell." "fast money" begins right now. stay with cnbc. a lot more to come before tomorrow's big day on wall street. have a good night, everybody. >>> stocks stuff. >> the market has spent days agonizing over 1414 so we'll see how that holds up. >> politicians in gridlock. >> i have just started. that is a bad strategy for america. that's a bad strategy for your business. and it is not a game that i will play. >> apple shutting down. >> apple is falling and falling fast. now slipping back into bear market territory having its worst day in more than one year. >> will anything get moving before the end of the year? we find out right now. live from the nasdaq market site at new york city, time scare, it's melissa lee. geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the com

sorkin is on vacation this week. onset with us is drew mattis. welcome. thanks for getting up early. >> i'm always up at this time. >> we'll be going through secretary geithner's comments, but first let's get you up to speed on other stories. joe was talking about apple. it has been a rough ten weeks for the most valuable u.s. company. shares tumbling more than 6% yesterday shedding $35 billion of market value. among the reasons cited by analysts, a forecast by an influential research firm suggesting that the iphone and ipad maker is continuing to give up ground it rival the android gadgets. there were also unconfirmed reports that at least one major stock clearing house was raising margin requirements. and then there's the fiscal cliff. analysts citing fears about a hike in capital gains tax in 2013. rick santelli has been talking about this, though, the things that were up in 2012, those are the things being sold now, whether that be gold or any number of assets that rose appreciably over the course of the last year. we'll be talking about the future of apple and the outlook for i

investment decisions. we have value investor leon cooperman, he's going to join us on set starting at 7:00 eastern time. then at 8:00 eastern, we have black op co-founder and ceo ralph schlosstein. and lynn hutchins will join us. we'll talk about what they see playing out and what they think is working when it comes to the markets now. >> the bill that the president says is in the house that he will sign if -- that's in the senate -- >> the senate. >> the senate that he will sign if the house passes it is what? >> that is $. >> -- that is 250? >> 250? >> he said 400. he said, i have the pen, let's keep tax rates where they are for everyone at 250 and below. so this one, that's c these guys are pretty clever because that would keep rates where they are for everyone at a million and below. no middle-class taxpayers up to a million dollars -- >> that's no matter what, isn't it, in either bill? >>yon r -- i think it would be the same in either one. that's not -- what reid and i guess pelosi, you saw that, said she opposes the million-dollar thing. a lot of people if back on what they s

month. >> luca, stay with us. we want to bring you major news out of neighboring korea. south korea has chosen its first ever female president. cheri kay has all the news. how significant is the election of miss park? >> well, i mean, she's really made history, set to become south korea's first woman president. it was a very tight race, a very polarized election with park winning 51.5% of the votes. but in the end, south korea made a choice that means more hope of economic recovery. scenes of joy as the v in south korea's presidential poll. >> this election is your victory. this is a victory brought by the people's hope for overcoming crisis and economic recovery 37. >> the daughter of a former military leader will take office next year as the country's first female president, challenging syria types in a country traditionally ruled by men in suits. she will be tasked with getting the slowing economy back on track at a time when growth rates have risen to a meager 2% now. but she will need to do it in a way that appeases young voters who are calling for more balanced income distribu

enjoji has the latest for us. how much of a game changer is all this? >> this is a serious game changer. it's a comeback for the dlp and shinzo abe. he has made it clear that the economy and economic recovery is going to be one of the pillars and hallmarks of his second time in office and he's wasting no time in piling on pressure on to the bank of japan who holds, of course, their two-day policy board meeting later on this week. here is what he had to say. >> i have constantly stressed our desire to present a policy accord in raising the inflation target to 2%. i do think it is unusual for monetary policies to come to the forefront during elections, but we have been able to gain much support for this. i hope the bank of japan will take this result intoious consideration. >>> shinzo abe has led the party to what's called a super majority. effectively, more than two-thirds of the 480 seat house that were up for grabs over the weekend. they've garnered those ballots. as a result, they can override any decision in the chamber of parliament. technically, this political inertia has claimed s

. first off, bob doll will be giving us his lineup for stocks. that's coming up at 7:00 a.m. eastern time. at 8:00 eastern, a cnbc exclusive. david tepper, one of the world's top performing hedge fund managers will join us to give us some of his wisdom in a kaerc t can't-miss interview. a lot to talk about with him. in the meantime, why don't we get to some of today's top stories. we could see some movement in the fiscal cliff negotiations. house speaker boehner offering to raise the top tax rates on those making over $1 million a year as well as other measures amounting to $1 trillion in new revenue. that's in exchange for an equal amount in spending cuts. the white house has not yet accepted the proposal. >>> also, apple says it has sold more than 2 million in iphone 5s in china just over the last three days. that's the best ever debut for the iphone line in china. apple is china's second biggest market, although it did lose a lot of market share while they were waiting for that i5 to come out. and citi research has downgraded apple from a hold to a buy. you can see there just belo

afternoon and open again at 5:00 p.m. carlows also uses that break for a nap, for now at least. -- carlos. >> i think soon we will have to stay open after lunch. this is a tourist area. we have to stay open because it is customer friendly even though a lot of people are against it. but business is business. >> to make sure tourists in particular are not faced with shuttered doors, the spanish government has changed laws regarding business hours. it wants visitors to the crisis- ridden country to have more time to spend money -- 90 hours a week instead of 72. >> it should help encourage trade and create more jobs in the sector. >> but the plans are threatening the siesta. the tradition of the lengthy break to unwind and relax is being sacrificed to the demands of the market. the spanish siesta was introduced in response to extreme working conditions. during the post-war period, it was not just the afternoon heat that force people to take a break. >> a lot of people had to take on two jobs at the same time. it was the only way to divide up the day so that you rested not just at night, but a

of the country should produce a patriots. even though they did charity phone yours uses the knowledge then you can but you might squeeze the people who respect businesses and business community in general. time yes that's business i would like to remind you that together with the businessmen but he might just be we started working on the national business initiative was done to bring russia into the top twenty anybody contrary his friends of the business climate. this would the pony king of the road if you do we curb the unity of these sedition and our oath will come primarily not in the commodities sector of but install and medium enterprises. regionals and seems plain enough or get rolled here is what we have this certain regions that lead to our would not be speech with the most able to the. suspect saying a ten percent g.d.p. growth in their regions with oil or gas a good engine. and so this is actually a good response to those who think we cannot exceed over four percent numbers any g.d.p. growth you're sure we hear you have an additional two point two point five percen

. we are talking about 30 year fixed mortgages. we have seen that it works. it only behooves us to grow the pie. as we think about our immigration policy, we need to think domestically what is going on with immigration debate. if we see 11 million people in this country earned a path to citizenship, that will have serious implications as housers. we need to be thinking about that as well. tom? >> he has slides. >> i have a few slides i want to run through. my name is tom deutsch and i'm with the american securitization forum. i want to put in context where we are in terms of credit availability. just to provide some backdrop of where capital comes outside the banking sector. think about mortgage lending. you always do with the local banker. those days have been gone for a while. most of the credit availability does not come to the banking sector. the capital does not come from bank of america's pockets. knows is coming out of fannie or freddie or fha. this provides a backdrop of global securitization around the world. the u.s. is a heavy user of credit products. europe is a distant

. o. . use of oh so four hours were they say about five kilometers so this is what it takes to to live and work in the arctic. who's helped me a little. it had been a tough introduction to moments when i thought i'd head out into the countryside to meet some animals who were thriving in the difficult conditions. and one thing i was really looking forward to doing up here was running into some oxic wildlife but aside from that it also seems that they might have one or two exotic guests as well . hello or tim. most to me this may be rather far from their native land spots according to keep the cold doesn't bother them at all and they're surprisingly even temperate. of course the traditional habitat of the ostrich is africa these birds can also survive in the north especially considering the temperatures drop during the night in africa so they can live in different places as long as they have enough food. to eat i think they are getting a bit hungry what they want to give them a snack for my code gets torn to ribbons. there might not be too much grass for them to nibble on round here

observation the only the superrich can save us. i would like to get an update on your take of the educational challenge we face by your analysis which i think is absolutely superb. you are really a beacon of light in the darkness for us all. >> host: >> guest: education is our biggest challenge, drive economic growth and we have an educational system that works on a model developed at the university of bologna in the year 800 where a guy stands in front of a rule of 800 and talk with them. and into every classroom using video and the internet. we need to recognize and education assistance designed for an agrarian era and give kids the summer of doesn't make sense and an educational system designed for people having one career in their lives beginning when they turn 21 and extending 20 years after that doesn't work and people need lifelong education and we need to educate people for the skills that are required by the evolve and high value-added economy and that doesn't just mean skills like math and science although we are lagging behind 30 or 40 other countries in the world in th

us." >> now joining us on booktv is magazine publisher, politician and frequent author, steve forbes, whose newest book is coming out in august of 2012 and it's called "freedom manifesto: why free markets are moral and big government isn't." we are at freedom fest in las vegas, where mr. forbes is speaking. mr. forbes, why is that free markets are moreover, but that government isn't. with an example of that? >> remake the emphasis of big government. going back to it james madison defined. but in terms of big government not being moral, it is the opposite of what it purports to do and creates an environment we have less ability to get ahead increased dependency and not a sense of independence. it plessis crony capitalism, which hurts oil entrepreneurship and creativity. all the things the government says it does hopes the poor to make sure the markets: the right direction. they do the opposite. their short-term oriented, writes to the next election. they have their own agenda. they don't respond to the marketplace the way business has to do. they have their own agenda of interest grou

all the samis life blunt used for meat on transport and they're well aware of what the shouts of their odors mean so this is the main feeding trough it seems time to throw it out right more than girls. well there are too clever to be. this one once the absolute is going to get about two kilos wrong great like a shark i used to working one third movie does deserve a bit more. although the sami have been hurting reindeer for centuries yelena says they also embrace the modern world but he just hurting reindeer is not tradition it's true though that the younger generations has somewhat modified it was still used ranges can to make footwear in the past they made things for consumption now production has switched to outfits for people driving snow mobiles. might say we are modern day people but we still want to some of the old practices might we can get away from them over you. and that includes putting some of the animals to work after all could you really have all these reindeer without a sleigh. feeding the reindeer is one thing but catching them is quite another xander is going to

would like to thank hanna rosin, anita hill, thank you for joining us. .. now from freedom fest the annual libertarian conference held in las vegas. booktv sits down with peter, ceo and chief global strategist at the pacific capital incorporated and argues that his book the crash that we replaced the housing bubble with a government inflated a bubble that will eventually top and caused another economic collapse. this is about 25 minutes. >> now joining us on booktv is peter schiff, he is the author of the real crash, america's coming bankruptcy. how to save yourself and your country. here is the cover of the book published by st. martin's press. what do you think when you talk about a government goebel? >> let's go back. we had two big bubbles, we had the stock market bubble because initially the chief money supplied to the economy by the fed and the stock market has had a lot of the crazy stock is replaced by a larger bubble in the real estate in which we expanded this economy based on all of the false rules while people were spending money that they don't have come in and we have

currently go among more moderate voices there are concerns the peace prize is being used as a political football i think this award basically does a lot kind of discredit past people who won this prize i mean it demonstrates a sort of heavy politicization of the use of this war and now it's been suggested that this year's winner of the peace prize picked it up more for not having done something as opposed to having food that peace around the globe. it seems like they got the prize more because there hasn't been any war in europe for many decades rather than having done anything specific i think as long as civic institutions like the nobel prize continue to lose their legitimacy and their spirit through political favorites and these prizes are always political but obvious political favoritism and maneuvering i think it actually takes something away and i think it's actually damaging leaves the whole institution of the prize facing the question whether the nobility is being drained from the nobel peach all of. the greek prime minister has visited the various in an attempt to res

. whoever gave a thought to kurds, for example. who. but this is -- as i said, we used to know a heck of a lot about south africa. now that knowledge has faded. and now we are experts or semi experts on the middle east and about what region next. he knows. >> i think, you know, what you're saying, the intimation. the first answer to your question is stop reading the new york times. [laughter] much more than it used 210 or even -- >> my commentary. >> there is a sort of classic effort to say what is important and what is unimportant in accordance with an ideological schemes. you know, i don't think there's an answer to this, and it's very hard to get people to jump out of that sort of in the case of the times to liberal left, the view of the world. except over a long amount of time by pointing out to cognitive dissidence and disrupted -- discrepancies. i guess it's easier now in the sense that the state department, i remember work stopped at 630 to watch cronkite and broke off. their interpretation of the news was critical for the u.s. government. likewise, time and newsweek. i mean, you

and launched their room service it's called social watch but uses the same methods and pursues the same goals as our going is ation because you know you so first we started this project walk away as an experiment and then we received support from the government this is a big achievement is there anything specific in your work in moscow compared to other countries. moscow's a big more than city when we first came here we saw a large number of homeless children and teenagers on the streets of course the situation somewhat improved since that time but i think what makes moscow special is that the problems of poverty and social isolation more pronounced here than in some other countries. as far as i know in false. is widely supported by the government by the authorities what about russia who funds do the authorities help you. the authorities know moscow authorities have their own service now it's called social watch but. it would have been do you see where it is of course to support it. initially when we came up with this idea but we provided both funds and personnel for some use of mo

for free transcripts or to give us your comments about this program, visit us at q-and- a.org. >> tonight on the c-span bbc parliament's year-end review. and later another look at "q&a" with author kevin phillips. >> $50,000 in total prizes. the deadline's january 18th. for more information go to studentcam.org. >> next, "bbc parliament's westminster review" takes a look back at all the major reviews. the debates with the prime minister on the british economy and the european union budget. the british particle jment in recess for the holidays. members return on january 7th. >> hello there. and welcome to the west minister review. our look back at the big events in parliament over the last three months. coming up in this program, the chancellor delivers the latest bleak economic view? his budget. david cameron's bench urges him to stand up to europe. >> i support absolutely. >> the ugly spector of child abuse hits the deadlines with some dramatic consequences. lord justin levison delivers his plan on press standards. >> we should be wary of any legislation that has the potentia

look at most of us americans throughout our history, we have never been all one thing or all the other. of course, we all believe in individual liberty and we are individual in a particular way. but the american way of individualism is not a radical individualism. it is tempered by our other commitment, a commitment to community. the very first word of the constitution of the united states is the word "we." i don't think we focus on that enough. the preamble describes common goals. i think in the wake of this awful event in connecticut, there really was a discussion where even americans who believe passionately in the second amendment, who believe in an individual right to bear arms, nonetheless said this right comes with obligations to the community. and the community has a right to impose rules in order to protect little children and other innocent people in the country. and i think kevin is right. at the end of this, there did seem to be a very different quality to the discussion. we've been so passive as a nation in the face of one. beautiful, innocent children who were kille

is this market doing running up ahead of a new deal term? the markets are telling us we will only get coulsome agreemen the budget. sure, our debt will get down graded like it did last year, but maybe that is the price that our government is willing to pay. here is the bottom line, it looks like they are rising above politics and it looks like they are going to give us a package that is good in the future. that is surprising. we thought that was unlikely. i mean this thing is fluid. if we bridge the fiscal cliff, without too many spending cuts and tax increases. we could have a good 2013. that is why the markets rally. let's go to mark. >> hey, jim, thank you for having me on your show. i'm a long-term investor with the short-term trading around the core position. um, you know, the stock only a half percent up today down close to a full percent. the board approvie ining coca c enterprises, and you know, we saw that go up 4.5%. my question to you, do you have any relationship between coca cola enterprises and european market? >> not that much. they have prispecific things th are po

hope i don't finish this. this term, this year, my life to my being useful. i want to be useful. on my tombstone, he was useful. live the long time. i want to be useful. it i don't want just to say the words, i want to make a difference. >> you already are. i think you on behalf of not only a library of congress and the children's book council and every child, but on behalf of the audience and for our country , the wonderful job your doing. walter dean myers a round of applause. [applause] >> thank you. >> we continue our coverage of the international summit of the book with the panel tell the role of cultural institutions and foster in the future of the book. this is about 50 minutes. >> we are coming to the second session of our day which would be a panel discussion on the role of cultural ostentations and posturing and the future of the book. i will turn to the panel's moderator to introduce the panelists once we are all on stage. sir harold is a distinguished feature in publishing in journalism. i'm sure you've heard of him. president and publisher of random house and the trade

recession that anyone can remember? >> it's the fact that it hasn't gone to a recovery phase. tore used to in a recession have a deep downturn followed bay quite rapid recovery. it takes longer to readdress individual positions in their debt. and that means that it lasts much longer than everybody expects because everybody tries to save. >> so if things aren't very bleak across europe, why is it that in some countries as in greece and in spain we've seen the protest? >> i put greece out on its own because the magnitude of the downturn in greece has been phenomenal. it's had six recessive years. the loss of income is of the order of 20% to 30% on average. we've had nothing like that in this country. we're almost due to be back next year to where we were in 2007. it's not as though we've had a massive loss of income. so that's a fundamental loss of explanation. there are also cultural differences in some countries there is more of a tradition of having riots. if for instance, you contrast ireland and spain very similar pathologists a problem leading to the downturn. in ireland there were mut